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Home Possible MCC Program

First-time homebuyers rejoice! The Mortgage Credit Certificate (aka MCC) program provides qualified homebuyers with income tax savings of up to 20% of the interest paid on their mortgage loan.

The annual savings, about $2,000 per year, is like getting a well-deserved bonus during tax season. Over the life of the loan, that could mean tens of thousands of dollars saved. Because the one-time fees are typically less than the amount you’ll save in your first year, you’ll be ahead of the game from the get-go.

Check out these program details.

Key Benefits:

Tax credit up to 20% of the interest paid on a mortgage loan

Savings to continue each year based on the actual mortgage interest paid

Remaining interest can be claimed as a tax deduction

Debt-to-income ratio reduced; buying power increased

$400 program discount when combined with Home Is Possible (see HIP Plus)

Statewide program

Program Requirements:

First-time homebuyers (have not owned a home in the past 3 years) or qualified veterans

We are proud to report that the MCC program fees are waived for qualified veterans. Veterans who are honorably discharged, active duty military members, surviving spouses and National Guard service personnel are eligible.